XRP/USD Medium-term Trend: Bearish
Resistance Levels: $0.61, $0.63, $ 0.65
Support Levels: $0.50, $0.48, $0.46
Yesterday, October 4, the XRP price was in a bullish trend. The XRP price reached the high of $0.54 but was resisted at the upper level of price range. As the digital currency fluctuates between the levels of $0.50 and $0.60; the price has fallen and is approaching the low of $0.52. However, if price reaches and reverses at the $0.50 price level, a long trade should be initiated and a stop loss below the $0.50 price level. The long trade should be exited at the upper price level.
Nevertheless, the MACD line and the signal line are below the zero line which indicates a sell signal. In the same vein, the XRP price is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing. Nevertheless, the Relative Strength Index period 14 is level 40 which indicates that price is in the sideways trend zone.
XRP/USD Short-term Trend: Bearish
On the 1-hour chart, the XRP price is in a bearish trend. The XRP price is below the 12-day EMA and the 26-day EMA which indicates that a bearish trend is ongoing.
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